Leading Cities INC FY2024 filing

Tax-deductible

Boston, MA501(c)(3)Community DevelopmentEIN 46-3320189Revenue $790K in FY2024

On file with the IRSleadingcities.org50 Milk Street 15th Floor, 02109-5002 · Boston, MATax-exempt since Jul 2014Private non-operating foundation

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501(c)(3) charity; gifts are tax-deductible.
$70K paid to officers and key staff.
Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2024 · Form 990-PFIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990-PF
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $128K a year · 23% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
990-PF Pt I · 6 filings
Pay to officers and key staff
$70K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
990-PF Pt VIII
Cash reserves
8 mo
of spending, in cash
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$240K
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
990-PF Pt II
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$790K
+33% vs prior year
Spent
$650K
Net assets
$344K
By yearFY2020–FY2025
Revenue
$790K
FY2024▲ +33%
Tap a bar for its year
Revenue by fiscal year
FY2020$340K
FY2021$382K
FY2022$484K
FY2023$595K
FY2024$790K
FY2025$754K
Expenses
$650K
FY2024▲ +22%
Tap a bar for its year
Expenses by fiscal year
FY2020$304K
FY2021$274K
FY2022$301K
FY2023$531K
FY2024$650K
FY2025$517K
Net assets
$344K
FY2024▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2020$56K
FY2021$165K
FY2022$348K
FY2023$297K
FY2024$344K
FY2025$584K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Grants & contributions paid 44% · $283K Operating & administrative 56% · $367K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990-PF; $70K paid to officers and key staff.

Part VII, Section A · reportable compensation
Presidentceo
$70,048Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2021
Michael Lake$123,846$70,048$75,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Programs and updates

A private foundation based in Boston, MA.

Questions for Leading Cities INC

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Provided by the organization

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Grants and how to apply

Who it funds, and how to ask.

Who They Fund

Part XV · grants paid · 2 grants · $150K · 2025–2025
Individual RecipientFY2025$100,000
Individual RecipientFY2025$50,000

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$75K
Median grantPart XV$100K
Largest grantPart XV$100K

By the numbers

The FY2024 990-PF, line by line.

1The main four
Money in
$790K
Gifts and grants$744K
Other income$24K
Investment income$22K
Money out
$650K
Grants paid$283K
Running costs$367K
Owns and owes
$344K
net assets
Cash and savings$438K
Total assets$584K
Liabilities$240K
People
10
listed
Paid1
2In more detail
Revenue in detail
Gifts and grants$744K
Investment income$22K
Other income$24K
Total revenue$790K
Assets in detailEnd of year
Cash and savings together$438K
Total assets$584K
Liabilities$240K
Net assets$344K
Operations
Fiscal year endsDecember

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $754K$517K$237K$584K 990 PDF
FY2024 Viewing $790K$650K$140K$344K 990 PDF
FY2023 $595K$531K$64K$297K 990 PDF
FY2022 $484K$301K$183K$348K 990 PDF
FY2021 $382K$274K$108K$165K 990 PDF
FY2020 $340K$304K$36K$56K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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